Microdisplay Market To Surpass USD 12.5 Billion By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Microdisplay industry size is expected to register 20% CAGR between 2024 and 2032 propelled by increasing adoption of AR/VR technologies.

Selbyville, Delaware , Nov. 12, 2024 (GLOBE NEWSWIRE) -- Microdisplay market was valued at USD 2.41 billion in 2023 and is projected to be worth USD 12.5 billion by the end of 2032, as per a recent study by Global Market Insights Inc.

As industries such as gaming, education, and healthcare increasingly adopt AR and VR technologies, the need for high-resolution compact displays becomes crucial. Additionally, advancements in microdisplay technologies, including OLED, MicroLED, and LCoS, enhance image quality and power efficiency, further attracting manufacturers. This synergy between growing application demand and continuous technological innovation positions the microdisplay industry for sizable growth in the coming years.

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The microdisplay market is segmented based on product type, technology, end-use industry, and region.

The near-to-eye (NTE) devices segment captured 45% share in 2023 due to the increasing adoption of augmented reality (AR) and virtual reality (VR) technologies. NTE devices, such as smart glasses and head-mounted displays, require high-resolution microdisplays to deliver immersive experiences and enhance user interaction. As industries, including gaming, healthcare, and education, increasingly utilize these devices for training and simulations, the demand for advanced microdisplays is set to rise. This trend positions the NTE devices segment for substantial growth within the microdisplay industry.

The MicroLED segment will hold 23% CAGR through 2032, driven by its superior performance characteristics, including high brightness, exceptional color accuracy, and energy efficiency. This technology allows for thinner and lighter displays, making it ideal for applications in augmented reality (AR), virtual reality (VR), and wearables. As consumers increasingly demand high-quality visuals for immersive experiences, MicroLED's ability to deliver vivid imagery at lower power consumption is driving its adoption across various sectors. This growing preference positions the MicroLED segment for considerable market expansion.

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Asia Pacific microdisplay market achieved 48% in 2023, spurred by rapid technological advancements and increasing consumer demand for electronics. The region's booming AR and VR industries, coupled with a strong presence of key manufacturers, significantly contribute to market growth. Additionally, rising investments in research and development, along with the growing popularity of wearables and smart devices, further bolster the demand for microdisplays. This combination of factors positions Asia Pacific as a central contributor to the overall expansion of the microdisplay industry.

Microdisplay Market Players

Companies including Sony Semiconductor Solutions Corporation, Seiko Epson Corporation, Himax Technologies, Inc., Kopin Corporation, SeeYA Technology, WiseChip Semiconductor Inc, eMagin Corporation are some firms working in microdisplay industry.

The microdisplay market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million & Units) from 2021 to 2032, for the following segments:

Market, By Product Type

• Near-To-Eye (NTE) Devices
• Head-Up Display (HUD)
• Projector
• Others

Market, By Technology

• Liquid Crystal Display (LCD)
• Liquid Crystal on Silicon (LCOS)
• Organic Light-Emitting Diode (OLED)
• MicroLED
• Others

Market, By End Use Industry

• Consumer Electronics
• Automotive
• Aerospace & Defence
• Healthcare
• Retail & Hospitality
• Education
• Sports & Entertainment
• Others

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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